ET had earlier reported that Blackstone has moved closer to pick up 15% stake in the property developer’s commercial real estate portfolio of 20 million sq ft for $250-$300 million.

In a tweet, the anti-trust watchdog said it has approved "acquisition of stakes in certain entities of KRC Group by Blackstone.

The developer has portfolio of completely leased 20 million sq ft office spaces across Mumbai, Navi Mumbai, Hyderabad and Pune.

K Raheja Corp, India’s second largest developer of commercial parks, is seen as a prominent candidate for listing its Real Estate Investment Trust (REIT) in India. This transaction is a pre-cursor to the company’s plan to list the commercial portfolio through a REIT. The company has developed more than 30 million sq ft of commercial space across western and southern parts of the country.